Narcolepsy Therapeutics Market Is Projected to Reach USD 3263.65 Million By 2025
New York, NY 10 Sep 2019 :The Global Narcolepsy Therapeutics Market is anticipated to reach over USD 3263.65 Million by 2025 according to a new research published by Polaris Market Research.
Narcolepsy is a therapeutic disorder which is categorized by prodigious daytime sleepiness as well as sudden attacks of sleep. In some cases, this chronic sleep disease can lead to an abrupt loss of muscle tone (cataplexy), leading to loss and weakness of muscle control. Some of the most common indications of narcolepsy are daytime sleepiness, hallucinations, fragmented sleep & insomnia, and sleep paralysis.
Growing incidence of narcolepsy and increasing overweight populace are the major factors estimated to drive the global narcolepsy therapeutics market growth. For instance, according to the Sleep Science journal 2017 report, it was estimated that around 1 in every 2,000 people across the globe are suffering from narcolepsy disorder. Moreover, according to the Australian Institute of Health and Welfare, around 63% of the Australian individuals who are aged over 18 years were estimated to be obese or overweight. Additionally, growing research and development activities and growing demands for effective treatment of the disease are another factors expected to boost the market growth. However, low per capita healthcare spending and lack of awareness majorly in middle income and lower-income economies is estimated to hinder the global narcolepsy therapeutics market during the forecast period.
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The global Narcolepsy Therapeutics Market is segmented on the basis of product, type, and geography. On the basis of product, the global Narcolepsy Therapeutics Market is segmented into Sodium Oxybate, Central Nervous System Stimulants, Selective Serotonin Reuptake Inhibitor, and Tricyclic Antidepressants. In 2017, Sodium oxybate was estimated to domkiat5e the market segment. The dominance is due to the presence of favorable reimbursement guidelines, the high cost of this drug, and the increasing awareness levels relating to diagnosis & associated treatments of the disease. On the basis of type, the global Narcolepsy Therapeutics Market is segmented into Narcolepsy with Cataplexy, Narcolepsy without Cataplexy, and Secondary Narcolepsy. In 2017, the Narcolepsy with cataplexy segment was estimated to dominate the market growth. The dominance is attributed to the growing incidence of cataplexy as a major indication in patients.
On the basis of region, the global Narcolepsy Therapeutics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe was estimated to dominate the global Narcolepsy Therapeutics Market. The dominance is majorly attributed to the well-established healthcare organizations, rising R&D initiatives for the expansion of novel drugs, and high incidence of people suffering from such disorder. However, Asia Pacific is expected to dominate the global Narcolepsy Therapeutics Market during the forecast. Rising disposable income, increasing investments in biotechnology and pharmaceutical sectors, economic development, supportive government initiatives, and rising awareness among people regarding the appropriate therapies are the factors expected to significantly boost the Narcolepsy Therapeutics Market in the Asia Pacific.
Some major key players in global Narcolepsy Therapeutics Market include Addrenex Pharmaceuticals, Inc., Arena Pharmaceuticals, Inc., BIOPROJET, Cephalon, Inc., Evotec AG, Graymark Healthcare, Inc., Hypnion, Inc., Jazz Pharmaceuticals, Inc., Ligand Pharmaceuticals, Inc., and Teva Pharmaceutical Industries Ltd. among others.
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